Zero revenue, 35 crated rigs and 1.65 billion new shares: how MGT is buying time
MGT is facing significant financial challenges, with zero revenue in the first half of 2026 and a substantial working-capital deficit. The company has issued billions of new shares to stay afloat, leading to severe dilution for existing shareholders. Its cryptocurrency mining operations have ceased, and its mining facility has been sold, leaving only 35 inactive mining rigs.
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